A residential homeowner approached Aria Finance seeking a fast, efficient solution to consolidate existing debts while also freeing up funds for home renovations. The clients needed a tailored financial strategy that could ease their monthly repayments and provide peace of mind.
The Client:
The clients were homeowners of a five-bedroom detached property. They had accumulated multiple lines of credit, primarily to fund their teenage son’s burgeoning racing career. With the son now securing a corporate sponsorship, the clients were keen to consolidate debt and reclaim financial stability while completing essential home improvements.
The Situation:
The clients were caught in a cycle of high monthly repayments, with total obligations of approximately £1,128 per month. Their debts included £34,401 previously used to support their son’s racing activities. They required a solution that would consolidate their debts, reduce monthly payments, and release additional funds for home improvements, including works to three bathrooms, a kitchen, and landscaping. It was imperative to act quickly to avoid further financial strain.
Our Solution
Aria Finance identified a lender capable of providing a Residential Second Charge loan with a 60% LTV and a four-year fixed rate. The lender offered an automated valuation process and did not require consent from the first charge lender, allowing a rapid underwriting process. By structuring a loan of £85,000, we were able to consolidate the existing debts and release £50,599 for home renovations. The empathetic and efficient approach ensured the loan was completed in just six days, preventing the clients from incurring additional high monthly repayments.
Benefits & Results:
Aria Finance’s tailored approach meant the clients avoided the stress of a slow, cumbersome process and were able to complete the loan in just six days. By consolidating their debts, they reduced their monthly outgoings by up to £851, immediately freeing up cash flow and breaking the cycle of high-interest repayments.
The residual funds allowed them to carry out extensive home renovations, including updates to three bathrooms, the kitchen, and landscaping, transforming their five-bedroom property into a space better suited to family life. Meanwhile, the clients could continue to support their son’s promising racing career without financial anxiety.
This case highlights Aria Finance’s ability to combine speed, efficiency, and a deep understanding of client needs. By sourcing a lender that offered a fast underwriting process, no first-charge consent requirement, an automated valuation, and a four-year fixed rate aligned to the clients’ existing mortgage, Aria ensured a solution that was both practical and strategic.
